Financial Services Regulation and Compliance - Funds May 2020
DOMESTIC
CBI markets update
The CBI published issue 5 2020 of its markets update. It contains updates from CBI, ESMA and IOSCO. CBI updates include CBI confirmation on the application of measures outlined in various statements made by ESAs in recent weeks in relation to regulatory flexibility on:
- application of two recent EBA statements to MiFID investment firms subject to CRR/CRD IV, on the application of the prudential framework and on additional supervisory measures in the COVID-19 pandemic
- approach to certain deadlines for bilateral margining under EMIR, in accordance with recent ESA publications
EU & INTERNATIONAL
Liquidity risks in investment funds and the use of liquidity management tools
The ESRB published a recommendation on liquidity risks in investment funds and a statement. ESMA published a statement expressing its support for the ESRB recommendation and statement. ESMA must communicate its response to the recommendation to the European Parliament, the Council of the EU, the European Commission and the ESRB by 31 October 2020.
COVID-19: ESMA statement on half-yearly financial reporting
ESMA has called for transparency on COVID-19 effects in half-yearly financial reports and set out recommendations.
For more information on this topic please contact any member of A&L Goodbody's Financial Regulation team.
Date published: 8 June 2020